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How has the online versus physical stores presence played out in India?
India is one of the growth markets in the world, and online retailing industry is amongst the fastest growing segments. Unique propositions that attract consumers online are low prices or discounts and convenience. Discounting strategy that most of the e-commerce players have adopted, has led to disruptive sales offline.
On the contrary, brands feel that a marketplace model in online space dilutes brand visibility and image, enabling brands only to sell the product as a commodity amongst 800 brands in the single market place. The cost advantage that enabled the online market seems to be diminishing with high maintenance costs, logistics and commissions. Nevertheless, there are exclusive online stores that have a premium positioning and are likely to sustain.
The offline or traditional market will continue to be one of the most promising modes for brands to provide brand visibility, to connect with consumers, provide experiences, differentiate brand positioning, establish the desired brand image, generate promising sales and maintain consistency in a controlled selling environment. With most retailers now offering an exclusive range of products to online partners, this conflict between online versus offline has been, for the most part, taken care of. Our research team experts believe that physical store presence is a key to brand visibility and promising customer base.
What has been your growth percentage in the last two years?
Elargir Solutions, one of the leading retail consulting companies, has been advising marquee companies and brands in this niche segment - retail. With growth in the retail sector, we have seen promising opportunities and outcomes for the company during the last two years. We are covering two most important retail markets of Asia - India and Singapore --- apart from our presence in the United Kingdom and Europe. We established our Singapore office this year, and have entered into a joint venture arrangement with a United Kingdom-based company to help global brands enter potential markets like India and help Indian companies grow and increase their reach into these economies. The United Kingdom and Singapore markets are fairly established and advanced in their retail space, and help us in covering the retail sector of the United Kingdom, Scandinavian countries and Europe efficiently. At the same time, we get the best practices and investments from mature markets that are very much required for the Indian economy.
What new plans are on the anvil?
Elargir Solutions looks forward to contribute significantly in the retail advisory to global brands entering India and Indian companies scaling overseas. We see ourselves to be one of the preferred advisors bringing best practices, supporting strategic tie-ups of brands and companies and managing their needs to enter and sustain in such markets.
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